Robeco Institutional Asset Management B.V. Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Robeco Institutional Asset Management B.V. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 34.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,812 shares of the cryptocurrency exchange's stock after buying an additional 36,193 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.06% of Coinbase Global worth $24,080,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global in the fourth quarter worth about $26,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC bought a new stake in Coinbase Global during the 4th quarter valued at approximately $35,000. Finally, Brooklands Fund Management Ltd purchased a new position in Coinbase Global in the 4th quarter worth approximately $37,245,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Down 5.8%

Shares of NASDAQ COIN traded down $21.64 during trading hours on Friday, hitting $353.43. 28,945,154 shares of the company traded hands, compared to its average volume of 10,717,985. The company's 50 day moving average price is $249.67 and its 200 day moving average price is $241.43. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $382.00. The stock has a market capitalization of $89.73 billion, a price-to-earnings ratio of 66.19, a price-to-earnings-growth ratio of 25.85 and a beta of 3.61. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the transaction, the insider now owns 83,313 shares of the company's stock, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 665,915 shares of company stock valued at $212,665,732 in the last ninety days. 17.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

COIN has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Cantor Fitzgerald began coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price for the company. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group restated a "hold" rating and set a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of "Moderate Buy" and an average price target of $291.06.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.